New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-31

deducr amount in sinking funds (S34lS,986, anu
The net sum to he covered by the proposed new
IS $685. Oo4 90 th ms 'ne an."'i and
$246 6s5 for the sin kIGg fund. to'aI of
81 726 $50 per annum for the first ten years anu u
$1073,240 thereafter. RIO,
lie adinsfment with the Central Branch Union
Pacific /. proposed ou the bass OF S3,2oOooV 10,
curing S97 500 interest and SlG,2o slnKlne ilnu
" 81 80 annually for the INST ten years anu
Tne present valne discounted at compound inter
est Of the debt of the Sioux CITY ana racine or,
road is fixcd at $3.50 600. rquIrine eich y.' u
500 900 nteresl and $4,000 sinking iund u"tai.
$116.20O for the first ten years ana Slo-'ooo o'
the rest OF he period.
sCATPISG WORDS FOR THEIR COLLEAGUES
Commissioners Anderson and Litter devote much
space TO exp ainlug and defending their proposed
plan of adjustment and express regret that the
minority report differs with them. They say IN
part:
ats perusal certainly appears ~ lend additional forre
to the ropsiti"n tIst the sxstina relation, pe"rsd
and pernanent adjustment effected Inc mls"rlW
Copmss:oner seems to have grouped together hatrIs
relating 10 these respective railroads without anv At,
tempt a dstrl Inn OF tie actual wrongs c",nPAh-
between the c"r'rau"i am .nH 'u. mnIa,nt i.
GERS and director. OF whom - e"mrlsn'
.w ass an" h of tnr,.. ' c.naini"s cssray
specific atoms whaevrr aai based. ~ far as me con-
tinsu.h tarse companies other railroad Corpora
lions in the United states but on tie seek In irad o s
on nlds ami under every possioIe circu m.
stance H. r-psrt reads Ike complaint ~ divorce Ter
crelty Az deserou-an endless mixture Of petty com
rlainfs united real grievances. all tendn< any 10
s"w 1s' the .01 %, t.. r.. ." ds: ear e S
selves and leads inevitably to the conclusion WIFI" "
OIGul.ssou has reached
PRAISE FOR MIR. ADAMs'S WORK.
The M jority report make an emphatic and es-
pecial re- erence to the mipis,raton OF the Union
Pacific Railway since the spring of 1854 Ii is ex-
onerated from the condemnati on passed upon It's
predecessors and Is commended for its honest and
intelligent devotion TO "tNe hcIcuean task OF res
cung the Union Pacific from the irso vency which
seriously threatened il at the Inception OF is
WORK" The report tina the present manage
ment has " devO eG itself nv rlgif economy, by III
,cligent management and by an appica non OF
do lar o. the earning clp7clty OF the system
to It's III provement and b-tterment 70 place that
company on a sound and enduring financial founda-
ton
Then follows severe criticism ut great leng h
If ia earlier managelnen' of the PlcIiic roads.
dcraIl> If their history beng taken up and de-
asteful or Illegal he @JepS attending the CON
soudatIon OF the Union Pacific and Kansas Pacific
roads are especially rcbuked. M.ny OF the arfS
of the builders f the t"utra L iciiic system
are characterized ~ wholly indeiensIbc," es-
peciallv with regArl 10 the contracts for con-
structIOn
HOW TIFF LAW HAS BFrN oBTYFD.
The third part of the majority report answers in
detail the queries as 10 whe her the bond-aided
companps have observed AL the obligations i'm
O,el upon them. Tie ohl'ga ION TO construct 4
firsf-class road has been c'un ilIed with; that re-
qulrIng assessments upon stockholders of not les
than IS per share It months, interest until tho
par value should b. { lily plIt has not beau kept
by any road 4, regards telegraph lines. the COM
panIes have transferred their ighls the Western
Union Company. The obIgatlon to trans
port troops and mails and to apply
per cent Of the net earnings and half of ransporfa
non eatnlngs 10 pavmeht OF lnte,cst on the / ID
states debt has been coripGed with II va, = vio-
latlOn of IT. oh gafion~ tor the Union Pachc -
'u~e 10 yro rate through business east and west
WITH he Kansas y. cihc 4 The >iOuv IItv AID
Pac fc. A. to The Union Pacific ana the kan-as
"a, tic cOI>oiidat he Commission be- lr,es
that n would be IL both Ill-aIvI.el ami unjust 20
question IN manner the LEGALITY al the cpnsoll-
Il ItIuu rs COrSuWua' "d.'
NJ divide lis have been paIi. the reno I stvs, ~
violation # Tie law. bat the policy OF DIS
iubutlug The assets Of the spcciivc c,mp1rlcs
APPROX q. The practc" Of iayIue re hatc~ II
declared 10 hay b-cu nr,e>- I, at tie umc To- The
preservation Of tn busues, Oh the ub,Io.Z@d
roads. he report eqYs that no direct proof of
actual bribery va OBTAINED N The Inycsfi - lon.
hut ~ lS certain that money uaod To lnilden,c
legislation.
THE MiNOrITY REPORT
The miuOIltv renDrf Il Commissioner Pattisou L.